Tue. Jun 18th, 2024
    India, the world’s second largest exporter of medicinal plants and herbal drugs, now gets ready to sell its herbal medicines in the global market. Most of the companies adopting Good Manufacturing Practices to strengthen Ayurveda, Siddha and Unani drug-manufacturing units in the country to improve the standards of the drugs for the promotion of exports.Globally, herbal medicine has become an increasingly common form or alternative therapy.According to the World Health Organisation estimates, the present demand for medicinal plants is about US $14 billion a year and projected demand by the year 2050 is US$5 trillion. Medicinal plant related trade in India is estimated to be around Rs.550 crores per year. While the value of global trade in medicinal plants has been put at over $60 billion per year, Indians total turnover of Rs. 2300 crores of Aayurvedic and herbal products, major over-the-counter (OTC) products contribute around Rs.1200 crores.

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